Port of Long Beach reports jump in container traffic

A big year - the 24 percent gain was the largest since record-keeping began in 1971. For December, inbound traffic at the Port of Long Beach was up 10.4 percent and outbound was up 14.7 percent. This year, percentage increases are likely to decelerate. From Bloomberg:

"You're going to start to see single-digit increases, and I think that'll be a good thing," [said Richard Steinke, the port's executive director]. "February is likely to be a very slow month" because the Chinese New Year will curb shipments from China to the U.S., he said.

[CUT]

Manufacturing, the industry that led the U.S. economy out of the worst recession since the 1930s, remains at the forefront of the recovery as businesses invest in new equipment. Contributions to gross domestic product from companies replenishing stockpiles slowed in recent quarters compared with late 2009 and early 2010.

Last week, the Port of Los Angeles also reported strong results.